ZheJiang BangJie Digital Knitting Share Co Ltd

*ST Bangjie released its 2026 interim report. As of June 30, the company's net profit attributable to the parent was negative 281 million yuan, a decrease of 131 million yuan compared with the same period last year, with the loss widening. Total operating revenue was 232 million yuan, down 20.74 percent year on year. Net cash flow from operating activities was negative 17.44 million yuan, down 130.22 percent year on year. The asset-liability ratio rose to 152.83 percent, the gross margin fell to 14.66 percent, and diluted earnings per share was negative 0.62 yuan.

Bangjie Shares issued a profit warning, expecting a net loss attributable to shareholders of the listed company of between 225 million and 335 million yuan for the first half of the year. The company attributed the loss mainly to high fixed costs from the suspension of its photovoltaic subsidiary, provisions for expected losses on overdue debts, and a decline in revenue and gross margin in its knitting segment. In addition, the company lost control of its photovoltaic subsidiary Yangzhou Bangjie New Energy Technology and deconsolidated it, which had a significant impact on net profit, but it also received debt forgiveness of about 650 million yuan from creditors during the same period, positively affecting owners' equity. The company's pre-restructuring process is underway, and a draft restructuring plan has been disclosed. It plans to bring in Meinian Onehealth Healthcare Group, a subsidiary of Meinian Onehealth, as a restructuring investor, and proposes a tiered repayment scheme for ordinary claims and a divestiture of the photovoltaic business. If the plan is approved, control of the company will change. As of May 28, 2026, a total of 31 creditors had filed 32 claims, with a total claimed amount of 2.15 billion yuan. The preliminary verified claim amount is 2.124 billion yuan, of which ordinary claims account for 2.123 billion yuan and related-party claims total 661 million yuan.